Nicole and Roxanne want to put up a twenty-bed boarding house along the University Belt. A study of other boarding houses shows that they would need the following: Beds and mattresses-Ph3000 Lockers and cabinets-Ph500; Furniture for receiving rooms-Ph500;Furniture for dining room- h1500; Tools, Equipment, and Utensils for Kitchen-Ph2000. They can secure a Ph2500 loan from an Employee's Cooperative, of which they are members 1. Assuming they will need an initial working fund of Ph500, how much more capital must be raised to finance his business? 2. If you were their accountants would you capitalize the required expenditures? Why? In which Financial Statements will you recognize them? 4 How will they be recorded as entries in the financial statementfs)